NEw £40m fund backing deals that keep businesses Welsh-owned has been launched. Nearly twice the size of the initial Wales Business Succession Fund, it is again being managed by the Development Bank of Wales.

It will back management buyouts and buy-ins of Welsh SMEs

Financed by the Welsh Government and the Clwyd Pension Fund, the fund offers structured equity and debt packages of between £500,000 and £5m with terms of up to seven years. It is forecasting to support more than 1,000 jobs across Wales.

It builds on the inaugural £25m succession fund which closes this year having supported 26 buyouts and safeguarded over 700 jobs since its launch in 2019. The new fund is expected to safeguard 1,000 jobs.

The first investment made through the new fund is a £5m package supporting a managemen

See Full Page